Harvey Organ Updates His Readers- Will Continue Posting on SilverDoctors

As many of you know, my website was pulled Friday afternoon and I could not post.
Here is a copy of the email that I received:

Submitted by Harvey Organ: 

HarveyOrgan

[email protected]

Oct 10 (3 days ago)

 

to meblogger-dmca-n.
Hello,We’d like to inform you that we’ve received a court order regarding your blog http://harveyorgan.blogspot.com/.
In accordance with the terms of the court order, we have removed content previously located at:
http://harveyorgan.blogspot.com/A copy of the court order we received is attached.  Thank you for your understanding.Terms of Service: http://www.google.com/intl/en/policies/terms/
Content Policy: http://www.blogger.com/content.gThe Google Team

 

end

 

I have sent 5 emails to google for the copy of the court order to no avail.

 

I will be creating another website of my own.  Silverdoctors has been gracious enough to allow me to post my daily updates on Silverdoctors.com

 

All material that I use has been from public sources and I never infringe on copyright laws.

 

Gold:  1229.30 up  8.30

Silver:  17.29 up 4 cents

 

In the access market:

 

Gold  1236.00

silver 17.50

 

Today gold and silver got a huge boost this afternoon with the scare at Logan Airport

in Boston, where 5 individuals were removed with flu like symptoms.

 

The gold comex again had 0 notices filed for the 4th straight day, which is totally unusual for an active month. There are 5 tonnes of gold standing.

 

In silver, the open interest continues to remain high at 169,495 contracts. To boot, the December silver OI rose to 119,402 contracts. 

 

Let’s head immediately to see the data has in store for us today.

 

 

 

First:  GOFO rates/

 

we are moving closer and closer to backwardation!!

 

All months basically moved slightly in both directions with the various GOF) months. On the 22nd of September the LBMA stated that they will not publish GOFO rates.  However today we still received today’s GOFO rates

 

London good delivery bars are still quite scarce.

 

 

Oct 11 2014

 

 

1 Month Rate:  2 Month Rate   3 Month Rate   6 month rate  1 yr rate

 

+.02%      +.03250%        +.0450%        +.095%    +  .1825%

 

 

Oct 10 .2014:

 

 

1 Month Rate  2 Month Rate   3 Month Rate  6 month Rate      1 yr rate

 

+.040%         +.050%         +.060%             +.1025%  .19667

 

 

end

 

 

 

 

 

Let us now head over to the comex and assess trading over there today,


Here are today’s comex results: 

 

 

 

The total gold comex open interest surprisingly fell by a large 2883 contracts from  386,149 all the way down to 386,186  with gold down  $3.60 on Friday.  We are now in the active delivery month of October and generally this is a very poor month for deliveries. The October contract month actually fell by a large 182 contracts down to 1134.  We had 0 notices filed on Friday so we lost another 182  contracts or 18,200 additional oz will not  stand for the October contract month. The November contract month saw its OI fall by 16 contracts down to 296. The December contract fell by 4151 contracts down to 276,986. The estimated volume today was poor at  107,506 contracts. The confirmed volume on Friday was also poor  at 128,174.  Strangely this was the 4th consecutive day of 0 gold notices filed and only 3 out of 7 filing days had positive readings. The first two days had 98.7% of the entire total number of notices filed so far.  They must have a great difficulty finding gold to serve upon our notices.  That fact that London is also very close to backwardation kind of confirms this.

 

  

 

 

The total silver Comex OI surprisingly rose by 52 contracts despite the fact that silver was down on Friday   to the tune of 12 cents. Tonight the silver OI complex rests  at 169,495 contracts.  In ounces, this represents 847 million oz or 121.00% of silver annual production.  In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests.No doubt that the open interest for tomorrow will be quite high.

 

We are in the  non active silver contract of October and here the OI rose by 6 contracts up to 184 contracts. We had 4 notices served upon yesterday so we had another  gain of 10  silver contracts or an additional 50,000 ounces will stand for delivery in October. November is also a non active delivery month and here the OI remained constant at 124 contracts.

 

 

The December silver contract is a biggy contract month and tonight it surprisingly rose to   119,402 contracts for a gain of 707 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the comex silver. In ounces, the December contract equates to 597 million oz or 85.2% of annual global production (ex China). The estimated volume today was poor at 25,151.  The confirmed volume on Friday was fair at 35,362 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.

 

 

Data for the  October delivery month.

 

October standings

 

Oct 11.2014

 

 

Ounces

Withdrawals from Dealers Inventory in oz

nil

Withdrawals from Customer Inventory in oz

 3,200.000  oz  ?????(JPMorgan)

Deposits to the Dealer Inventory in oz

nil

Deposits to the Customer Inventory, in oz

nil ( o oz)

No of oz served (contracts) today

0 contracts( zero oz)

No of oz to be served (notices)

1134 contracts (113,400 oz)

Total monthly oz gold served (contracts) so far this month

 483 contracts  (48,300 oz)

Total accumulative withdrawals  of gold from the Dealers inventory this month                       

  15,000.27 oz

Total accumulative withdrawal of gold from the Customer inventory this month

 


542,302.96 oz

 

Mexican LIbertad SDBullion

Today, we had zero dealer transactions today

total dealer withdrawal:   nil oz

 

total dealer deposit:  nil oz

 

we had 1 customer withdrawal:

 

i) Out of JPMorgan: 3,200.000 oz

and this is not divisible by 32.15 so it is not kilobars.  How on earth can this be possible????

 

total customer withdrawals: 3200.000  oz

 

we had 0 customer deposit:

 

 

total customer deposit:nil oz

 

We had 0 adjustment:

 

 

Total Dealer inventory: 945,488.206 oz   29.408 tonnes

Total gold inventory (dealer and customer) =  8.979 million oz. (279.30) tonnes)

 

A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 24 tonnes have been transferred out. We will be watching this closely!

Heidi Wastweet

 

 

Today, 0 notices was issued from  JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts  of which 0 notices were stopped (received) by JPMorgan dealer and 0  notices stopped by JPMorgan customer account.

  

 

 We had 0 notices served upon our longs for 0  oz of gold.  In order to calculate what will be  standing for delivery in September, I take the number of contracts served so far  this month at 483 x 100 oz  = 48,300 oz,to which I add the difference between the open interest for the front month of October (1134  )  minus the number of notices served upon today (0)  x 100 oz  =  161,700 oz or 5.02 tonnes.

 

We lost 18,200 oz of gold standing tonight.

 

Thus: October  standings:

483 contracts x 100 oz =  48,300 oz +  (1134 ) – (0)x 100     =  161,700 oz or 5.02 tonnes

 

 

end

Oct 11/2014:

 October silver:  Initial standings


Silver

Ounces

Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory  2,000.000 oz (Delaware)?????
Deposits to the Dealer Inventory  nil
Deposits to the Customer Inventory  586,986.7 oz  (JPMorgan)
No of oz served (contracts) 0 contracts  (nil oz)
No of oz to be served (notices) 184 contracts (920,000 oz)
Total monthly oz silver served (contracts) 532 contracts (2,660,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month 1,783,683.3
Total accumulative withdrawal  of silver from the Customer inventory this month 2,456,312.4 oz

 

Today, we had 0 deposits into the dealer account:

 

 

 

 total dealer deposit:nil oz

 

we had 0 dealer withdrawal:

 

total  dealer withdrawal: nil oz

 

 

 

 

 

We had 1 customer withdrawals:

 

i) out of Delaware an exact 2,000.000 oz

how can this be possible???

 

total customer withdrawal 2,000.000   oz  ???

 

 

 

We had 1 customer deposit:

 

i) Into JPMorgan; 586,986.700 oz  oz

 

total customer deposits: 586,986.700    oz

 

we had 0 adjustment:

 

 

 

 

Total dealer inventory:  66.633 million oz

Total of all silver inventory (dealer and customer)   184.102 million oz.

 

The CME reported that we had 0 notices filed for nil oz today. To calculate what will stand for this  active delivery month of October, I take the number of contracts served for the entire  month at 532 x 5,000 oz per contract or 2,660,000 ounces upon which I add the difference between the open interest for the front month of October (184) – the number of notices served upon today (0) x 5000 oz per contract

 

Thus Oct.  standings for silver:  532 notices x 5,000 oz per notice or 2,660,000 oz + (184) –  (0) x 5,000 oz  =  3,580,000 oz

 

we gained an additional 50,000 silver ounces that will stand for silver at the Comex for the October delivery month.

 

this level will continue to rise as the month progresses.

 

 

 

It looks like China is still in a holding pattern ready to pounce when needed.

The open interest on silver is  still highly elevated.  Gold has a low OI with a low gold price.  Silver has a high OI with a low silver price.  Something has got to give!!

 

As far as the silver inventory, it looks compromised as well.  Shanghai is in complete silver backwardation and yet comex seems to import huge amounts of silver.

 

end

 





The two ETF’s that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.

There is now evidence that the GLD and SLV are paper settling on the comex.



***I do not think that the GLD will head to zero as we still have some GLD shareholders who think that gold is the right vehicle to be in even though they do not understand the difference between paper gold and physical gold.  I can visualize demand coming to the buyers side:


i) demand from paper gold shareholders

ii) demand from the bankers who then redeem for gold to send this gold onto China

 

vs no sellers of GLD paper.





 

 

 

And now the Gold inventory at the GLD:

 

Oct 11.2014:  this is good/it is quite possible that the gold has finally hit empty  (due to gold near backwardation)

 

GLD  761.23 tonnes up 1.79 tonnes today.

 

Oct 10.2014: we lost 2.64 tonnes of gold from the GLD and this gold will head to Shanghai/inventory 759.44 tonnes

 

Oct 8.2014: we lost 5.39 tonnes of gold today and this gold will be heading to the friendly confines of Shanghai, China /New inventory 762.08 tonnes

oct 7.2014: as of 6 pm est, no change in gold inventory/767.47 tonnes


oct 6.2014: as of 6 pm est no change in inventory/767.47 tonnes

 

Oct 3.2014: as of 5 pm est no change in inventory/767.47 tonnes

 

Oct 2.2014: we lost another 1.19 tonnes of gold inventory heading towards Shanghai.  (inventory 767.47 tonnes)

 

Oct 1.2014: we lost another 1.20 tonnes of gold inventory heading towards Shanghai.  (inventory: 768.66 tonnes)
sept 30.2014: we lost another 2.39 tonnes of gold inventory heading towards Shanghai.  (inventory 769.86 tonnes)


sept 29.2014: we lost another 1.2 tonnes of gold inventory heading straight to Shanghai.  Later in this report you will see that 50 tonnes of gold exited SGE.  Thus the 1.2 tonnes is a drop in the bucket as to the inventory needed.  No doubt much of the gold will now come from the FRBNY:


current inventory: 772.25 tonnes.



sept 26.2014: no change in inventory/773.45 tonnes



sept 25  no change in gold inventory/773.45 tonnes


Sept 24.2014: no change in gold inventory/773.45 tonnes

 

 

Today we had a huge addition of  gold  inventory at GLD to the tune of 1.79 tonnes  ( Inventory:  761.23 tonnes).

 

  

The registered  vaults at the GLD will eventually become a crime scene as real physical gold  departs for eastern shores leaving behind paper obligations to the remaining shareholders.   There is no doubt in my mind that GLD has nowhere near the gold that say they have and this will eventually lead to the default at the LBMA and then onto the comex in a heartbeat  (same banks). 



 

GLD gold:  761.23 tonnes.

 

 

end

 

 

 

And now for silver:

 

 

Oct 11.2014: no change in silver inventory so far:

 

345.766 million oz

 

oct 10.2014: we lost a massive 3.25 million oz of silver leaving the SLV. Inventory 345.766 million oz

 

 

 

 

Oct.8/2014 no change in silver inventory 349.071 million oz

 

 

Oct 7.2014: a  reduction of silver inventory to the tune of 863,000 oz/new inventory at SLV  349.071 million oz


Oct 6.2014:  no change in inventory/349.934 million oz.

 

Oct 3.2014/ we had a minor loss of 152,000 oz and this is usually to pay for fees./Inventory 349.934


oct 2.2014: no change in silver inventory/350.086 million oz.

 

Oct 1  late last night at 11 pm I was notified by Fred that they added a remarkably high 4.075 million oz of silver inventory at the SLV.

 

new inventory: 350.086 million oz.



sept 30.2104: no change in inventory/inventory 346.011 million oz

 

sept 29.2014: an addition of 767,000 oz/new inventory  346.011 million oz

 

 

sept 26 no change in inventory/remains at 345.244 million oz.

 

sept 25 another huge addition of 2.398 million oz of silver was added late last night (after I posted).  New inventory 345.244 million oz.

 

Sept 24.2014: no change in silver inventory at the SLV/remains at 342.846 million oz.

 

Sept 23.2014: another gain of 2.397 million oz of silver into the SLV/inventory 342.846 million oz  (note the difference between GLD and SLV movements)

 

sept 22.2014:  strange again/inventory remains the same:  340.449 million oz

 

Sept 19.2014:  inventory remains constant at 340.449 million oz

 

Sept 18.2014: late last night we picked up another 960,000 oz/inventory now 340.449 million oz

 

 

sept 17.2014: no change in silver inventory 339.489  million oz

 

Sept 16.2014: no change in silver inventory at the slv/339.489 million oz

 

Today, Oct 11.2014

 

Inventory tonight no change  345.766 million oz

 

end

 

 

 

 

And now for our premiums to NAV for the funds I follow:

 

 

 

Note:  Sprott silver fund now deeply into the positive to NAV

 

 

Sprott and Central Fund of Canada. 

 

 


(both of these funds have 100% physical metal behind them and unencumbered and I can vouch for that)




 

1. Central Fund of Canada: traded  at Negative 8.2% percent to NAV in usa funds and Negative 8.3%  to NAV for Cdn funds

Percentage of fund in gold  60.50%

Percentage of fund in silver:38.90%

cash .6%


.( Oct 10/2014)   holiday i n Canada today

2. Sprott silver fund (PSLV): Premium to NAV rises to positive 3.97% NAV (Oct 10/2014)  will pick up later 

3. Sprott gold fund (PHYS): premium to NAV  falls to negative -0.48% to NAV(Oct 10/2014) will pick up later. 

Note: Sprott silver trust back hugely into positive territory at 3.97%. 

Sprott physical gold trust is back in negative territory at  -0.48%



Central fund of Canada’s is still in jail.

 

And now for your major data points today:

SilverBioticsSDBullion

Portuguese 10 yr bond yield:  2.94  down 1  in basis points  from Friday night.

(Portugal imploding)





Your closing Portuguese 10 year bond yield Monday night: up  8  in basis points on the day 


Portuguese 10 year bond yield:  3.04%  



Your closing Japanese yield Monday up 1 in basis points from 

Friday night:

 yield .51%  

 

Japanese 10 year bond yield:  .51% 

And now for your closing Japanese 10 year bond yield / par  in   basis points from the morning: ( Japanese markets imploding)

 Japanese 10 year bond yield:  .51%

 

end

Your opening currency crosses for Monday morning:

EUR/USA:  1.2678  up .0054

 

USA/JAPAN YEN  107.29   down .27

 

GBP/USA  1.6083 up .0010

 

USA/CAN  1.1206 up .0016

This morning the Euro is  up , trading now above  the 1.26 level at 1.2678 as Europe continues to face deflation.  The yen is up a lot and It closed in Japan rising by 27 basis points at 107.29 yen to the dollar .  The pound is up from Friday as it now trades just below the 1.61 level  to 1.6083.  The Canadian dollar is down  this morning with its cross at 1.1206 to the USA dollar.

Your closing Spanish 10 year government bond Monday/ down 2 in basis points in yield from Friday night.  


Spanish 10 year bond yield:  2.08% !!!!!!  

 


 Your Monday closing Italian 10 year bond yield up 1 in basis points and trading  25 in basis points above Spain./

Italian  10 year bond yield;  2.33% 

 

 Early Monday morning USA 10 year bond yield:  2.28% !!!  down 1 in  basis points from  Friday night/   (USA economy not doing so well with this low yield) wow!!


USA dollar Index early Monday morning: 85.52 down 39 cents from Friday’s close

 

 IMPORTANT CLOSES FOR TODAY

Closing currency crosses for Monday night/USA dollar index/USA 10 yr bond:   Europe falling apart this afternoon

 

Euro/USA:  1.2754  up .0130  (huge move)

USA/Japan:  106.79 down  .870  (huge move) 

Great Britain/USA:  1.6081  up 0.0007 

 

USA/Canada:  1.1193 down .0002 

 

 

The euro rose sharply  in value during this afternoon’s  session, and it was 

up hugely on the day , closing well above the 1.27 level to 1.2754.  The yen was up strongly  during the afternoon session,and it gained 87 basis points on the day closing just above the 106 cross at 106.79.   The British pound gained some ground  during the afternoon session and it was  up for the day as it closed at 1.6081

 

. The Canadian dollar was well up during the afternoon session, and it was up on the day closing at 1.1193. 

 

Your closing USA dollar index:

 

85.19 down 71 cents  on the day  

your 10 year USA bond yield, a fall of 1 basis points: 2.28%!!!!

 

 

European and Dow Jones stock index closes: closed before NY slaughter)

 

England FTSE up  26.27 or 0.41%

Paris CAC  up  4.99 or 0.12%

German Dax  up  23.62 or 0.27%

Spain’s Ibex 35 up 36.80 or  0.36% 

 

Italian FTSE-MIB  down 61.89   or 0.32%


The Dow: down 223.03 or 1.35%

Nasdaq; down 62.58  or 1.46%

 

OIl:  WTI  85.05

        Brent:  88.14

 

 end

 

Well that is all for today.  We are getting close to the end game

And I again would like to extend my sincere gratitude to The Doc & JB for hosting my site until my new site is ready.

bye

Harvey

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